Talking Points:
• A round of global PMI figures this past session reinforced concerns of a slowing economy
• Despite a sensitive markets and key levels like those for the DAX and Nikkei, the data didn't force a break
• Monetary policy will shift back to the forefront ahead with policy for the USD, EUR and GBP transitioning
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Despite the financial market's recent rumblings and the influence of high-profile event risk, bears were unable to mount the next phase of their offensive Wednesday. Global PMI figures for September represented top economic listing and capable catalysts considering much of the fundamental attention for fear has centered on growth concerns and its implication for and with monetary policy trends. Nevertheless, the disappointing round of data - particularly China's manufacturing survey - wouldn't force Yen crosses or the equity indexes perched on key support (like the Nikkei 225 and DAX) to bearish breaks. Ahead, sentiment should be considered always 'at-risk' but the docket shifts to monetary policy. Fed Chair Janet Yellen is scheduled to give a lecture and there are questions about how it will influence rate forecasts given the ECB President Mario Draghi testimony this past session unexpectedly supported the Euro. We look at the mixed global winds and trade implications in today's Trading Video.
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